help with inheritance

diddygez

Hi wondering if anyone can help... to cut a long story short a relative recently died and left everything to my brother.... he has decided to split it with myself however I am unsure as to what happens in terms of tax etc.. my share will probably be £50k , can he just deposit that in my bank with no implications or will someone need to be told .. any advise would be much appreciated

CLAPTON

once the money is his, he can give you (or anyone else for that matter) anything he likes without any immediate tax issues.

should he die within 7 years then the gift would be added back into his estate for IH tax purposes and potentially some tax might be payable from his estate.

Mojisola

What a lovely brother you have!